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worth of defense deficits to pump it up and we get $85 billion a month in transfusions a month from the fed and we are still limping along like a mature and quite frankly modest economy. >> eleanor? >> i think these numbers reflect the fact that government is shrinking and the defense department really pulled back in the last quarter of last year. it is a cautionary sign and looks like both parties are kind of sleepwalking their way toward a sequester. the ropes don't want to -- the republicans don't want to give up anything on the revenue side they would rather take a hit in spending. the democrats have protect social security, pell grants and medicaid, so they are not going to cave first. so if neither party blinks, the sequester will go ahead and we'll see further contraction in the economy. but you know, i'm not that glammy. i take my cue are from mark sandy, an accomplished economist. he says in 2013 we are going to go along with steady, modest growth but the housing market is truly come back and 2014 looks like. >>> tell mark the consumer confidence dropped from 58.6% to 58.6%
to reduce a deficit, he said the answer will require sacrifice from everyone. >> well, i don't think the issue right now is raising rates. the question is if we're going to be serious about reducing our deficit, can we combine some smart spending cuts, because there is still some waste in government. can we reform our health care programs in particular, because we spend a lot more on health care than every other country does, and we don't get better outcomes. so there is a lot of waste in the system. and there are things that we can do to reduce health care costs. and can we close some loopholes and deductions that folks who are well connected and have a lot of accountants and can take advantage of, so they end up paying lower rate that's an bus driver or a cop. can we close some of those loop holes? if we combine those things together, then we cannot only reduce our deficit, but we can continue to invest in things like education and research and things that will help us grow. >> meantime, the president leaves washington tomorrow for minnesota to make his case for new gun restriction
. >> let's hear what you had to say. >> you want to actually achieve strong deficit reduction in this country. we have known for the last eight years that you've got to make tough choices on defense, on entitlements and on taxes. the problem we've had in this town for the last ten years now is a political log jam. one party saying you can't cut defense and you can't raise taxes and the other saying you can't touch entitlements. until both sides are willing to put everything on the table and make those tough choices, we're going to continue to play games. that's the problem in this town right now. >> first of all, you've held up pretty well. >> that's a very thoughtful guy. i'm with him. >> this is 1989. i'll take the republican president, we had a democratic house, democratic senate. >> there's your issues. >> same political log jam. >> exactly. >> so nothing changes or maybe should we actually feel more optimistic? >> i'll tell you, the difference was ultimately at that time the leadership on both democratic and republican sides came together to develop some very important bu
the deficit and by making reductions in spending. he talked about football. mr. obama says the threat of con suggestions for football players means everything should be done for safety, special if you are youth. the standoff between a man holding a young boy hostage and police and what investigators are saying about the situation tonight. >> panetta is speaking out r out about chuck hagel. >> there is no time like the present for john kerry >> still no end in sight to that hostage standoff in alabama. jim continues to hold a 5-year-old boy in a bunker. they have been communicating with him and they are able to provide medicine to the child. ethan will turn 6 years old later this week. so far authorities are tight lipped about what he wants. police say this standoff continues. funeral services were held until alabama for that bus driver. he tried to block him from grabbing more students off the bus. people say he acted heroricically when hi got in the way of the gunman. >> a spokesperson says clinton is a long-time friend and the mayor advised hillary cli
of the gdp. discretionary and entitlement spending, we have record-breaking deficits. no one is stopping it. nwe have a spending problem. we don't have a revenue problem. johnathon first. >> yeah, we don't, eric we tax enough and so much of what our tax dollars go to are not specified in the constitution. to the congressman's point. it is specified in the consitution. food stamps and fema and epa and healthcare and all of the other money is found no where in the constitution . it is it basically taxing people's lives . until congress gets that out of their head when they tax and borrow, they are hurting individual americans . it is getting out of the control. >> congressman can why gree we have a spending problem and not a revenue. >> we have. as the commission said we should do spending reductions and two dollars of every tax dollar . if i could. there are stow many, look at glaxco smith kline . 7 years they had hid from the fda. >> let's stay on topic congressman. stay on topic. wayne, let a talk about we sphent 5.8 trillion in the last four years and what do we have for it . a negative g
on the deficit. to keep the u.s. economy on the upswing. >> for example, we need to lower the cost of health care and programs like medicare that are the biggest drivers of our deficit. without just passing the burden off to seniors. and these reforms must go hand in hand with eliminating excess spending in our tax code. >> the president said wealthy individuals and large corporations should not have access to tax look holes and deductions not available to average americans. >>> the white house released this video of president obama skeet shooting in camp david and it was taken in august and it was answering skeptics to those who thought he didn't know how to shoot. a tennessee woman says he respects the sport of hunting. and democrats are pushing for tougher gun control legislation in congress. >>> a first of its kind event in concord, today, was aimed at keeping student athletes healthy on the field and off. the volunteers from the medical center offered health screenings for students at delasalle high school. about 15 years ago, an athlete died of sudden heart failure during a basketball game.
crisis. now the focus in washington has swung back to budgets and deficits. the nation is heading toward budget sequestration. for medicare this means a 2% spending cut. but that's just a downpayment. any serious attempt to tackle the deficit must curb the increase in medicare and medicaid spending. last week a kaiser family foundation report listed 150 ideas to reduce medicare spending. the problem is almost all of
picture is as follows. yes, i think more deficit reduction is occurring than most people realize. if the sequester actually occurs or cuts equivalent to the size of the sequester occur, $1.2 trillion over two years, you will have had $3 trillion of deficit reduction done or in the pipelines, and simpson bowles two years ago called for 4.5%. you will have done two thirds of what they said. although if they were sitting here today they would probably call for a higher number. however, it's not being done in the right way. on a balanced way and adequately balanced between revenues and spending and the key to spending restraint over the very long term, entitlement reform is not as mcginnis said, part of the picture. >> alan, your book. let's talk about that for a moment. you argued the t.a.r.p. and the stimulus did their jobs. why and what did we learn from the crisis? >> well, why? we had a very sick financial system, especially a sick banking system. that had to be the first order of priority, even though it was bound to be incredibly unpopular politically, which was. and still is,
gdp calculation rises, government versus consumption plus investment and minus your trade deficit, right? so if it's not going to consumption and it's going into the pockets of the top 1% or whatever, why aren't we seeing that reflected in investment? in fact, we saw very good business and investment numbers in the latest economic data. where are those dollars disappearing to? >> people invest when there's no return. >> excess capacity, you're not going to build more excess capacity just because the fed has low interest rates. i mean, if you look at investment overall, before the crisis, about 40% of all investment was in real estate. now, that is going to be damp dampened just because we built too many houses. >> and we had a bust, right? >> and we had a bust. the good news was a lot of them were showedly built and they'll fall apart and we'll have to reconstruct them. >> thank heavens. >> but the fact is, we overbuilt. the other part is actually not doing badly, given how weak demand is. it's not a lack of money. it's not the weaknesses in our financial system. that was one of t
in my view are willing to basically deficit spend and run us into a fiscal problem. republicans are unwilling to touch revenue so say let -- let's deficit spend and democrats are unwilling to address government spending so they deficit spend. both sides which is why this country does not trust washington. >> i want to get quickly to another issue, chuck hagel's confirmation hearing this week. not even the white house would defend his performance. here's a piece of it. >> i support the president's strong position on containment, as i said. if i said that, meant to say that i -- obviously his position on containment, we don't have a position on containment. >> we do have a position on containment, which is that we do not favor containment. >> he was kind of a surprise there from chuck hagel, probably not going to hurt his chances of confirmation, is even getting some republicans -- >> i think he's going to make it but if you have to clarify your clarification, you're in trouble, no. i mean if we compare, for instance, what he went through with what hillary clinton did with the ben
approach these choices? supervisor kim: the budget is tough this year. even though our deficit is not as large as it has been, it is tough because we have made these cuts already, and did this point, we are cutting things we really do not want to cut. and it is painful. we will lose more potential services. we will also not be able to support our residents. we are looking at weekend meals for seniors. it is painful. i think we have to look at it as a combined approach. it has to be cut within city government that we can bear -- services that are less essential. second, you have to look at raising revenue in the city. i think it needs to be a combination. and third, need to be much better informed, and we have to ask our public employees to look at the budget. and they already have, but also to look back. it is a threefold approach to me. >> what are the city's housing needs him much of the board of supervisors to to address them? supervisor kim: it is tough, because we depend on the market to build housing for our residents we build at over 150% of the need. we are building ove
administration if we're going to pay off the deficit at some point. there is really no other way to do it without run away economic growth which we're not going to have. >> we're at a point where they have this so both sides are lined up for this battle going into may. if they propose any actual cuts in the senate on spending, i will buy you another one of those girlie drinks you have. >> all right. see, john. toby did get the last word. coming up, they were some of the biggest supporters of the health care law. but are unions starting to show buyers remorse? the cavuto on business gang on their new demand and why everyone may pay at the bottom of the hour. but up here first, nearly two-thirds of middle aged workers are doing something that someone here says could drive this number higher. whether you're young or old. this mid life headlines, or go to foxnews.com. >>> you think 7.9% unemployment is a bad number? then get a load of this. nearly two-thirds of american workers age 45 to 60 now saying they're planning on delaying retirement. only 40% said that just two years ago and toby, you say thi
, federal debt/deficit, which of those three issues will be paramount in that senate campaign? economy improves, it will be the economy. if it is beyond the economy, i think health care might be an issue. whatever democrat runs probably voted for it. whatever republican runs and did not vote for it. i do not think that will be a big issue unless there is a lot of administrative action taken by this president that is going to turn gun owners off. then the president could raise it to a big campaign issue. i do not think any action by congress will raise it to a big campaign issue. >> i want to ask the questions about immigration reform. a group of eight senators are trying to draft legislation and take the lead on this issue. were you asked to be in the group? what i was not. i suppose i could have volunteered. as ranking member, art dealer leading ranking member of the judiciary committee, it is more ideologically divided. i think i have to be a person that is an honest broker. i am going to look at it from the standpoint of my participating in the 1986 act and try to make sure some of
. in addition, deal than the u.s. government cannot massive deficits is because the federal reserve's ability to play funny. today the federal reserve couldn't print money. no time at interest rates with me. i don't think the u.s. could -- and would not be creditworthy if you couldn't print money. that creates a huge temptation for politicians. republicans and democrats. i don't think whether disciplined fiscal policy until monetary policy. the recent financial crisis. in the late 1990s, early 2000, alan greenspan had been there long time, wanted to be a hero. he was getting ready to retire for having the minor correction. greenspan was going to be good note, so he starts lowering interest rates, the effect to printing money. it creates negative real interest rate. so you can borrow dramatically less than the appreciation rate of housing, which incentive a huge investment house in which a prayer at such low interest rates. in right at the end of his term, greenspan realizes he's screwed up and he and his successors to raising interest rates very rapidly and create something: inverted joker. a
, even if there weren't inflation. >> greg? >> i would add ironically the budget deficit is falling. certainly as a percentage of gdp and we'll get on tuesday, i think, from the congressional budget office new budget figures that show, in fact, that the deficit is dropping and dropping pretty significantly. >> guys, one last question to each of you. you have been watching the markets for so long. we have near records for stocks. gdp that shrank, jobs growth that is okay. why is the market so excited about what's happening either corporate profit or the economy? >> you know, that is a good question. i think a lot of people have been asking it. i think we have been in the context of record corporate profits. the fundamentals of the stock price. if you added up all the money that the market forecasts that the company will make in the future, that's how much the stock should be worth. so, record corporate profits in some sense should have been reflected in higher prices already. and now, the only reason they weren't, i think, is because people were afraid that washington might blow it u
by congress over deficit reduction in washington could hurt the u.s. economic recovery. >> we can't just cut our way poprosperrity. it hasn't worked in the past and it won't work today. it coo slow down our recovery. it could weaken our economy. and it could cost us jobs. not just now, but in the future. >> as he has done in past, the president today called for a balanced approach that would eliminate tax loopholes for the wealthiest americans and large corporations. >>> meanwhile the white house released this photo of president obama skeet shooting at camp david. the photo was taken back in august, but was released to answer skeptics who doubted mr. obama knew how to shoot. a tbs congresswoman questioned mr. obama's statements that he enjoys the sport and respects the traditions of hunting. >>> in turkey police have confirmed the identity of the suicide bomber who attacked an american embassy. police released this security video the bomber moments before he ignited the bomb. the terrorist group that claim responsible for the bombing now calls him a martyr for the anti- american cause. the
and important projects as much as we can. at the state level, as we face this huge budget deficit as well to make sure there is flexibility in spending at the local level. but i absolutely think that we need revenue measures that come on the ballot, and voters have to be thinking about ensuring that we have enough revenue so that we maintain infrastructure, the building and maintenance of the streets and buildings and even a kind of parts of the coat -- coast. the need to make sure infrastructure is there and also that we have money that -- to protect the critical safety net for seniors and young children and families and the most vulnerable in our communities as well, but i think those are key questions as the difficult budget for our city comes forward. i will be working with a coalition of family-based and community-based groups and seniors to ensure we protect our community-based services for seniors. >> what are your ideas on dealing with the issue of homelessness? >> i think homelessness has been this structural problem, not just in our city but other metropolitan areas, and i think
this week. the ongoing debate over the rising debt and deficit and how to rein in government spending. here is a portion of the address. [video clip] >> i recently voted to present the democratic majority in the u.s. senate with a simple but powerful challenge. pass a budget, or you do not get paid. by forcing senate democrats to finally live up to one of the most basic responsibilities of governing, we are presenting them with a golden opportunity to confront and fall -- solve our spending program. we are holding president obama accountable for the sequestered cuts he first proposed in 2011. republicans want to replace the sequester, which is a series of harmful across the board cuts with better, common-sense cuts and reforms. all of this will require democrats to finally get serious about the spending problem. each of the last two years, the republican-led house has passed a responsible budget that addresses what is driving the debt to put our country on a path to prosperity. unfortunately, it has been for years some senate democrats last pass the budget. 1000, 375 days to be exact. -- 16
to be weathering the country's fiscal uncertainty, but it is doing so nervously. >> we have massive deficits, a big tax increase that no apparent willingness to get government off people's backs by reducing government spending, and all of that is a heavy, heavy weight on the private sector. firms around the nation are sitting on cash instead of creating jobs. >> reporter: on wednesday the commerce department announced economic growth actually fell to a-10% the last three months of last year, the chairman of the president's council of economic advisers says other indicators remain positive. >> consumer spending increased. business investment. residential construction. >> reporter: the jobs report showed a larger number of people dropped out of the labour force than down jobs. a former administration economist says some of that is to be expected. >> the population is aging, so we expect to have a fair number of people retiring every month for the next ten years or more as the baby boomers retire. >> reporter: the conference board reports a sharp increase in the number of older workers considering del
on national security issues and debt and deficit, apparently. but new jersey's republican party is much different. think scott brown, massachusetts, to some extent. he might be able to win in new jersey, but certainly doesn't fit in in the u.s. senate. but maybe the first senator to have a chair thrown at him on the floor because the climate relationships are going in that direction, howie. >> what is it -- >> he's a great guy, by the way. i love geraldo. >> i like him on his radio show. is he a plausible politician? on that point, what it with talk show hosts because he's hardly the first one who have pretty successful careers and then they get the bug and muse on the air about wanting to run for high, political office? >> i think that they see, you know, how easy it is and how doing a talk show. you show up, you recite talking points and you yell at your colleagues and the audience and that's it. they figure, you know, they need a bigger stage for this and that maybe there's an easier way to actually make a living than to actually, you know, have to show up -- >> no, no. much easier m
there in deficit and the economy slightly diminishing, and, you know, this unemployment number, they can't afford to raise the rates. gerri: well, i hear you. i don't know if they are listening. rates slowly ticking higher here. will that do anything to the housing rebound. do you worry people will step back and not buy? >> no, not yet. when you look at it realistically, buy a $275,000 house with 5% down, your monthly payment is still less than in 1987 buying $175,000 house with 5% down. we're still in a better era today for housing than we have been in a long time, and rates are at 3.5%. i mean, that is still exponentially low. people need to understand where we were, where we are, and just move. if you want to refinance, it's time now. gerri: we're showing a graph, a chart of 30-year mortgage fixed rates from all the way back to 2008-2009, and it is the steep slope south to 20 # -- 2013. it's about comical people are worried about rates popping up because most people have never seen this in their lifetimes; right? how often in your career have you financed houses at this level? >> oh, this is u
, food insufficiency. you. you can't just overcome those kinds of deficits by providing a headstart education program. so that is where the book began and most of the people advised me and said it's an interesting book and i'm sure you'll get on fox tv. that was not my goal. my. my goal was not to be a critic. i said well, okay let me depart two of the book. there are some social programs that are really quite effective and maybe we can learn a lesson from that. a big quiz in the course of writing the book that i conducted and bored to death my wife and children was let me sit down with everybody and tell me the three government programs that have been the most effective in the last 65 years. almost every one of my academic friends with a headstart and i would say wrong. no evidence. the most effective government program in chronological order our social security, the g.i. bill of 1944 and medicare in 1955. there will be some pushback about that. even "usa today" had an editorial this week is that social security is a pay-as-you-go program. no, it's not. i can never go broke provide
worked together to reduce our deficit by $2.5 trillion. that is a good start, but to get the rest of the way, we need a balanced set of reforms. for example, we need to lower the cost of health care like programs like medicare. we cannot pass the burden. these reforms must go hand-in- hand with eliminating excess spending in our tax code so that the wealthiest cannot take advantage of loopholes and reductions that are not available to most americans. 2013 can be a year of solid growth and more jobs and higher wages. everyone in washington needs to focus on what is right for the country, on what is right for you and your families. that is how we will get our economy moving faster. it will strengthen our middle class. we will build a country that rewards the effort and determination of every single american. thank you. have a great weekend. >> hello. my name is susan brooks. it is a pleasure to speak to you from my home state on indiana. my husband and i have raised two children here. i've been a u.s. attorney for this area and starting last month, one of the state voices in the u.s
of our deficit. without just passing the burden off to seniors. these reforms must go hand-in- hand with eliminating excess ending in our tax code, though that the wealthiest individuals and biggest corporations cannot take advantage of loopholes and deductionsnew york not billable to most americans. 2013 can be a year of solid growth, more jobs, and higher wages. that will only happen if we put a stop to self-inflicted wounds in washington. everyone in washington needs to focus, not on politics, but on what is right for the country. what is right for you and your families. that is how we will get our economy growing faster, strengthen our middle class, and how we will build a country that rewards the effort and determination of every single american. thanks. have a great weekend. >> hello, my name is susan brooks. it is a pleasure to speak to you from hamilton county in my home state of indiana. i have lived in indiana just about all my life. i have been david and i have raised two children here. i have been a u.s. attorney for this area, and starting last month one of the hoosier
who has worked with budgets throughout my life, in order to deal with the deficit problem, you've got to deal with entitlements. you have to deal with revenues. and you have to deal with discretionary. all of it has to be part of a package. >> is he doing enough? >> i think he's pushing as hard as he can. >> should he be more public? >> well, look. the president of the united states has indicated the concern about sequester. he's indicated his concern about maintaining a strong national defense. and he's proposed a solution to this. the ball is in congress' court. they have got to take action to delay sequester. >> i want to move on to some of the hot spots. we'll start in north africa. a lot of news this week. here is the a.p. headline. u.s. limited in fight against north african militants. the united states is struggling to confront an uptick in threats in the newest hot spot with limited intelligence and few partners to help as the obama administration weighs who you to keep islamic extremists from jeopardizing national security without launching war. we want to put up a map here.
of this administration is the lack of priority and funding for the military. while they've increased the deficit by $5.3 trillion in four years, the only major part of the budget has been decreased is the military. that's something pretty well- known. a lot of people don't like that idea. the thing that bothers me just as much is putting the agenda, another agenda under the military budget. for example, you have heard senator mccain and me and others talk about the fact that the navy paid for 450,000 gallons of fuel, some $26 a gallon. you can get it on the market for $3. the air force, same thing. except it's $59 a gallon. and so the question i would have of you is just a commitment that if you are confirmed, will you confine the dollars that we are going to spend in the defense budget for defense purposes, for war-fighting purposes? >> well, of course i will because that's the intent of our budget and department of defense. >> i appreciate that very much. there was an article the other day in "the washington post" by jennifer ruben called, "our dim witted state department." it's kind of an interesti
ceiling, which does not one thing to add to the budget deficit. not one nickel of spenning, it's agreeing to pay the bill. we waited seven months and threaten ord credit rating. the american people are sick of that. they want action. they want their taxes low, as we just saw happen reinly in avoiding the fiscal cliff -- which came as i might add through bipartisanship. the republicanses came through with the table to what obama proposed and he compromised with raising it to the $4,000 level. that's the action that people want to see. >> speaking of our president, he said during obamacare, oh, you're premiums wouldn't be raised. sorry, david. that's exactly what we are seeing -- >> when 2014 comes along -- [overlapping dialogue] >> americans are not able to keep their health insurance. another thing the president promised. >> i have to say, after an absence of david being out, with personal issues and health issues, we are glad to see you back. >> it's a pleasure to be back. >> happy to have you both. >> a bus transporting a philadelphia youth group rammed into a boston-area bridge, injuri
Search Results 0 to 44 of about 45 (some duplicates have been removed)